Cleveland Cavaliers confirm signing of Dwyane Wade on one-year deal

Chicago Bulls v Boston Celtics - Game Five

Just days after securing a buyout from the Chicago Bulls, Dwyane Wade has signed a deal to join the Cleveland Cavaliers.

The veteran penned a one-year contract worth the minimum $2.3 million and will be reunited with former teammate LeBron James.

The duo spent four years together with the Miami Heat winning two championships together and Wade felt a move to the Cavs was his best opportunity to claim another ring.

Upon signing with the team on Wednesday, the 35-year-old was thrust into action as he joined his new teammates for an evening practice session.

After the move was made official, the shooting guard posted a statement on Twitter explaining his decision to leave Chicago and head to Cleveland.

"The team [Chicago Bulls] is now heading in a different direction, which has made me re-evaluate where I need to be in this phase of my career," Wade said. "Being a part of a team that is in the process of rebuilding doesn't align with where I want to be right now no matter how difficult that decision may be.

"There's no better place to be right now to continue to play and compete at the highest level. Cleveland believes in my talents and what I can bring to a championship contender both as a player and leader. I look forward to reuniting and playing alongside my brother LeBron. We've already won two championships together and I hope we win a third."

Unsurprisingly, King James was delighted with the acquisition of his longtime friend and the fact that the Cavaliers "were able to keep [Wade] away from everybody else."

"This is like one of my best friends. It's kind of like when you start school and you walk into the classroom and you're not quite sure who your classmates are and when you walk in there and one of your best friends is in there, you're like, 'Oh, yeah, this is going to be fun. It's going to be a good class.' That's the type of feeling I got," James said.

D.Wade, a three-time champion and former Finals MVP, will be joining a formidable Cavs roster that also includes Kevin Love, Isaiah Thomas, J.R. Smith, Tristan Thompson and Jae Crowder.

The franchise has one of the deepest rosters in the league and head coach Tyronn Lue will have his work cut out choosing his best lineups.

In his lone season with the Bulls, Wade averaged 18 points and showed that he can still be a productive player.

The 12-time All-Star will have a star-studded cast around him and could prove to be a dangerous weapon for the Eastern Conference champions.

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